OVG breaks ground on new Moody Center arena
Oak View Group has broken ground on the Moody Center, a new multi-purpose 15,000-seat arena at the University of Texas in Austin.
The US$338 million venue will replace the university’s existing arena, the 42-year-old Frank C. Erwin Jr Center. In addition to hosting local sporting fixtures and university events, Moody Center will provide a “world-class venue for top touring concerts and shows” in the self-proclaimed live music capital of the world.
The start of construction on Moody Center comes amid a building boom for Oak View Group (OVG), the venue development, advisory and investment company founded in 2015 by former AEG CEO Tim Leiweke and ex-Live Nation chairman Irving Azoff. Other in-development projects include arenas in Seattle, Washington; Belmont, New York; Palm Springs, California; Milan, Italy; and Manchester, UK.
Live Nation Entertainment will work with its local subsidiary, C3 Presents, to bring top tours and live events to Moody Center. Live Nation CEO Michael Rapino says: “The Moody Center will be a must-play arena and we look forward to bringing our concerts and tours there as soon as the doors open in 2022.”
“The Moody Center will be a must-play arena”
“Being a fourth-generation Austinite, I grew up in the Frank Erwin Center and have hundreds of memories with my family and friends, adds Charles Attal, Partner, C3 Presents. “It is an honour to work on this new world-class event centre for the next generation to enjoy.”
Oscar-winning actor Matthew McConaughey, a University of Texas (UT) professor, becomes ‘minister of culture’ of the Moody Center, and will provide input on suite designs, bar placement, colour schemes and more.
“As a proud alumnus and professor at UT, I’m honoured, now as minister of culture, to convey what a special place the university and the city of Austin are through the design and hospitality of the new Moody Center. It should be the first place the biggest bands in the world want to play, but the last place a visiting basketball team wants to play.”
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